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Gold within striking distance of five-year low at 1080 after NFP
By now, you’ve no doubt heard about today’s essentially perfect Non-Farm Payrolls number and the resulting surge it’s caused in the dollar. This report, and its resulting implications for Federal Reserve monetary policy will be dissected six ways to Sunday over the next couple weeks, but one of the most pressing developments is the resulting weakness in gold prices. Gold is set to close lower for its eighth consecutive day, with the yellow metal trading nearly 80 points from the levels seen just two weeks ago. The commodity has sliced through all of the possible near-term support levels along the way, including ... (full story)
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